Security Trust Co. v. City of Paris

Opinion op the Court by

Judge Rees

Affirming;.

In 1934 the city of Paris purchased certain additional machinery and equipment for its municipally owned electric light and power plant, and on October 23, 1934, the board of commissioners of the city adopted an ordinance authorizing the issuance' of 6 per cent. Electric Light Plant Revenue Certificates of the city of Paris, in the principal sum of $69,463, for the purpose of paying for the machinery and equipment which had been purchased. These revenue certificates are payable solely out of a fixed portion of the revenues from the municipally owned…